Market View 15th May, 2026

View on market: Volatility persists, eagerly searching for growth:

Global markets remained largely positive, supported by hopes of improving relations between the US and China and continued strength in technology stocks. Asian markets traded with a negative tone, led by negative gains in South Korea and Japan, while Hong Kong markets remained mostly steady. US markets continued their upward momentum as buying in AI-related stocks lifted investor sentiment. Strong retail demand also helped ease concerns over rising energy prices linked to global tensions. Indian markets ended firmly higher during the expiry session, supported mainly by banking and telecom stocks. Buying interest was also seen in pharma, metals, consumption, PSU banks and rural-focused sectors. Realty, auto, defence and media shares also closed in the green. However, IT stocks remained under pressure and emerged as the only major laggard, with heavyweights in the sector witnessing selling pressure. Overall, market sentiment stayed positive with broad-based participation across most sectors.

Key Quarterly Results for Today:

AARTIDRUGS, APLLTD, AETHER, AFSL, AMBER, ARIHANTSUP, ARVIND, BAJAJELEC, BALMLAWRIE, COCHINSHIP, BALRAMCHIN, BEEKAY, BHILSPIN, BINNY, CHEMBOND, CUBEXTUB, CUPID, DCMNVL, DEEPAKNTR, DEVYANI, DMCC, EMKAY, FUSION, GODFRYPHLP, GODREJIND, GOKULAGRO, GREENPANEL, HINDCOPPER, ITCHOTELS, MONARCH, NAVA, NCC, NHPC, OLATECH, POWERGRID, PREMIERENE, SAIL, SJVN, SOLARINDS, SUPREME, TATASTEEL, UTTAMSUGAR, WELSPUNLIV.

Economic Calendar:

• USD: Industrial Production Data on 15^th May 2026.
• IND: Foreign Reserves and Passenger Vehicle Sales and Export and Import Data on 15^th May 2026.
• USD: FOMC Minutes on 20^th May 2026.
• IND: Infrastructure Output Data on 20^th May 2026.

BROKERAGE RADAR:

CITI ON JSW STEEL:

Target ₹1165 Earlier Target ₹975 Recommendation Sell, Leverage improves on BPSL divestment, more capacity; management expects range-bound pricing, EBITDA/t has upside potential from Q4, However, at 9.3x EV/EBITDA, this appears priced in.

CITI ON TATA MOTORS PV:

Target ₹330 Earlier Target ₹345 Recommendation Sell, Q4 Results above estimates, but JLR margins face headwinds, India PV business demand is healthy, and mgmt. guided to 10% year-on-year growth in industry volumes, Not certain on sustainability of margins for JLR, where hedging gains were the key driver of EBITDA beat.

GOLDMAN SACHS ON VOLTAS:

Target ₹1200 Recommendation Sell, Cost pressure visible earlier than expected and likely to persist, AC performance in the quarter has been weak specially on profitability, Expect strong demand in FY27E given the weak base and expected normal summer seasonality as well as the price increases, Increase in copper and aluminum prices coupled with INR depreciation will likely dampen margins recovery.

GOLDMAN SACHS ON HINDUSTAN AERONAUTICS:

Target ₹5225 Earlier Target ₹5255 Recommendation Neutral, Robust order book, but yet to see pick up in execution, EBITDA margin was lower owing to higher than expected other expenses and capitalised expenses, Provisions dropped by 88% year-on-year, implying continued subdued manufacturing activity in Q4, Believe that the delivery of Tejas Mk-1A will be a key milestone for the stock performance.

International Markets:

U.S & Europe:

*As per 15^th May.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

View on market: Volatility persists, eagerly searching for growth

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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